A loan of $2,800 helped a member to purchase new products to expand selection.

Floria's Group's story

Floria B. is from the village of Manano. She is 58 years old. Floria is the group leader of a 10-member group. While each member of the group receives an individual loan through ASKI, they are all collectively responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. The official name of this borrowing group is the Floria B. Group.

Floria is married and has two adult children. To earn a living, Floria owns and operates a general store. While not the only means of generating revenue, the main source of income for the business comes from selling a variety of different products in the local community. Floria has been engaged in her business for over 30 years and earns approximately 2,000 PHP a month for these activities.

In 2006, Floria joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business. Floria has successfully repaid a previous loan of 25,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Floria is requesting a new loan of 20,000 PHP which will be used to purchase new items to expand product offering. This will be the eleventh loan taken out by Floria through ASKI. She plans to use the additional revenue it generates to improve and expand her business.

About ASKI:

ASKI is one of the most successful microfinance institutions in the Philippines. It has 25 branches covering the Central and Northeastern areas. Its clients are mostly farmers, fisherfolks and small entrepreneurs.

*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva and edited by a human editor. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

In this group: Floria, Jennia, Felicitas, Justina, Jenny, Clarissa, Josephine, Emilia*, Gerlie, Emeliana

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